Salem Investment Counselors Inc. Has $9.13 Million Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Salem Investment Counselors Inc. increased its stake in GE HealthCare Technologies Inc. by 5.7%, owning a total of 123,216 shares valued at approximately $9.13 million after purchasing 6,691 additional shares.
• The stock has a market capitalization of $34.90 billion and has seen a 52-week price range of $57.65 to $94.80, opening at $76.44 on Friday.
• Analysts have a consensus rating of "Moderate Buy" for GE HealthCare Technologies, with price targets suggesting a potential upside, particularly after recent upgrades from brokerages.

Salem Investment Counselors Inc. boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,216 shares of the company's stock after purchasing an additional 6,691 shares during the quarter. Salem Investment Counselors Inc.'s holdings in GE HealthCare Technologies were worth $9,127,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. RB Capital Management LLC lifted its position in shares of GE HealthCare Technologies by 16.6% in the second quarter. RB Capital Management LLC now owns 5,741 shares of the company's stock valued at $425,000 after acquiring an additional 817 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of GE HealthCare Technologies by 49.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 7,221 shares of the company's stock valued at $535,000 after acquiring an additional 2,374 shares during the period. Harbor Investment Advisory LLC raised its holdings in shares of GE HealthCare Technologies by 85.5% during the 2nd quarter. Harbor Investment Advisory LLC now owns 924 shares of the company's stock valued at $68,000 after buying an additional 426 shares during the period. AG2R LA Mondiale Gestion D Actifs purchased a new stake in GE HealthCare Technologies during the 1st quarter worth approximately $1,540,000. Finally, First Hawaiian Bank increased its position in shares of GE HealthCare Technologies by 1.7% in the 1st quarter. First Hawaiian Bank now owns 30,509 shares of the company's stock worth $2,462,000 after purchasing an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Up 1.7%

Shares of GEHC stock traded up $1.26 during mid-day trading on Friday, reaching $75.26. 1,691,555 shares of the company's stock traded hands, compared to its average volume of 3,939,795. The company's 50-day moving average price is $74.54 and its 200-day moving average price is $73.33. The company has a market cap of $34.36 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.93 and a beta of 1.13. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The business had revenue of $5 billion during the quarter, compared to analysts' expectations of $4.96 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The company's revenue for the quarter was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.87%.

Analysts Set New Price Targets

GEHC has been the subject of a number of research reports. Citigroup raised their price objective on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Zacks Research raised shares of GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Morgan Stanley set a $74.00 price target on shares of GE HealthCare Technologies in a report on Thursday. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Finally, Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $88.40.

About GE HealthCare Technologies

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.